Chapter 4 (Really Chapter 4)

Question 1

What is Ethics?

Answer 1

Moral principles that govern a person’s behaviour or the conduct of an activity

Question 2

What are laws?

Answer 2

Rules in a particular country regulating the action of its member which it may enforce by the imposition of penalties

Question 3

What is caveat emptor?

Answer 3

Principle that the buyer alone is responsible for checking the quality and suitability of goods before the purchase is made

Question 4

What is code of Ethics?

Answer 4

Adopted by organizations to assist member isn understanding right from wrong and applying that to their decisions

Question 5

What is meant by moral idealism?

Answer 5

Personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome.

Question 6

What is meant by social responsibility?

Answer 6

Ethical framework and suggests that an entity, be it an organization or individual, has an obligation to act for the benefit of society at large

Question 7

What is a social audit?

Answer 7

A way of measuring, understanding, reporting and ultimately improving an organizations social and ethic performance